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Pick A Successful Franchise

3 Ways to Pinpoint a Successful Franchise Model

April 29, 2015 by @guidant

Franchise. Business Concept.With the franchise market growing by the day, the options for franchisees and franchisors are numerous, and industries from fast food to beauty to childcare are taking advantage of the franchise model. In order for a franchisee to choose the best franchise for them, the brand’s success and profitability should most certainly be considered. Here are a few tips to keep in mind to help you pinpoint an effective model.

Quality Education

A franchise that takes the time to invest in its franchisees is going to be much more successful than one that does not. The training period is a perfect opportunity for the franchisor to impart knowledge that’s been hard-won over years of business ownership. This is, of course, the beauty of franchising: there is no need for the franchisee to go through years of trial and error, because the franchisor already has. The fact that the business owner is now franchising eludes to a certain amount of success in this area. Taking advantage of this invaluable experience during the education period is a sure-fire step in the direction of success.

Unified Brand

Franchises, by definition, are multiple locations and branches of the same business. Sometimes these are spread across the country, or even the world. It can be difficult to maintain a focused brand across such geographic and cultural distance, but it’s possible. Think of McDonald’s famous golden arches. They are completely recognizable, and identical, regardless of the country or continent. This kind of brand power leads to success in marketing, as well as showing a strong, unified front to consumers.

Quality Business Model

A successful franchise is dependent on a quality business model. It must take the success of the original business and find ways to replicate it in a different market with different owners. The model should be scalable, able to fit ten franchise locations or a thousand. Additionally, a strong business model will have guidelines in place for determining the number of franchisee locations a particular geographic area can support. Subway is a fantastic example of a franchise that has found and maintains the perfect market saturation rate

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Franchise Loan Disapproved

[Webinar] 5 Reasons Banks Deny Loan

Webinar: 5 Reasons Banks Deny Loans, hosted by Sabrina Parsons, CEO of Palo Alto Software and David Nilssen, CEO & Co-founder of Guidant Financial from March 11, 2014

Get Pre-Approved for your business loan CLICK HERE

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Home Health is Multi-Billion Dollar Industry

The Home Health Care Industry Expected to Reach $355 Billion in Annual Revenue by 2020

arrow-382675_640It’s no surprise that the home health care industry is expected to grow through 2020 and beyond, especially given the fact that the Baby Boomer generation has started reaching retirement age. However, there are a number of different aspects to the industry that will contribute to continued strong growth, helping it become the leading job creator through 2020.

Technology is a major component of the in home care industry, even though it’s only recently being taken advantage of. More tech companies have been focused on researching the various needs of doctors, visiting nurses, home care aides, and even seniors and disabled adults who require some type of support at home. These tech companies are employing the benefits of mobile technology in creating apps and other devices that help keep people safe in the comfort of their homes while at the same time improving communication and quality of care overall.

These emerging technologies are contributing to this current and expected continued growth for an industry that will see a record number of seniors relying on these services in the future.

According to the press release, Home Healthcare Market Will Reach $355.3 Billion, Growing At An Estimated CAGR Of 11.7% Till 2020: Grand View Research, Inc. published by MedGadget:

“Increasing adoption of telehealth and other emerging healthcare technologies are expected to drive market growth over the forecast period. Home healthcare is rapidly getting adopted as a cost effective alternative to healthcare establishment based therapy and therefore, growing geriatric population base and prevalence of chronic conditions requiring long term care is also expected to have a positive impact on growth. Presence of untapped potential in emerging markets such as India, Brazil and China and increasing health awareness are expected to serve this market as future growth opportunities.”

Increasing numbers of seniors are preferring to remain within the comfort of their own homes as opposed to moving into another living environment, which can include family members, assisted living communities, and nursing homes.

Increased demands for proper health care at home and patient monitoring for doctors has been driving this technological innovation and as the cost of these devices and apps drops, the demand is expected to rise, thus driving an even stronger industry. On top of these factors, as hospital face increased pressure to reduce readmission rates, having access to better communicative devices and information for patients will help achieve those goals.

The global home health care marketplace continues to increase, with North America accounting for more than 40 percent of all revenue generated.

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Handyman Franchises Expecting A Great 2016

Handyman Franchises Expecting A Great 2016

MrHandymanAre you considering franchising with Mr. Handyman? We’ve got good news. Looks like 2016 is primed to be better than ever for the home improvement market–a perfect time to get in on this booming industry!
According to LIRA, the Leading Indicator of Remodeling Activity, annual spending growth from the first quarter of 2016 to the third quarter, is expected to grow to more than 7.6%, from 4.3% at the year’s start. This is a trend on track to be the highest since 2006.
 LIRA is a study released each year by the Joint Center for Housing Studies (JCHS)at Harvard University. Chris Herbert, Managing Director of JCHS, says the report ties directly to the real estate market.
“2016 is looking to be a stronger year for home renovation activity compared to 2015 thanks to the continued recovery in the owner-occupied housing market,” Herbert said. “In most markets across the country, rising house prices are bringing more homes to the market and increasing sales, which are a large driver of home improvement activity.”Mr. handyman trcuk
 
According to the JCHS website, LIRA is designed to estimate national homeowner spending on improvements for the current quarter and subsequent three quarters. The indicator, measured as an annual rate-of-change of its components, provides a short-term outlook of homeowner remodeling activity and is intended to help identify future turning points in the business cycle of the home improvement industry.
 
It’s a great time to be a Mr. Handyman franchisee. Please feel free to reach out to us if you would like to learn more.
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Hiring Care Givers in the Senior Care Industry

Hiring Care Givers in the Senior Care Industry

Blog story1

 

Hiring Care Givers in the Senior Care Industry

Ask any Senior Care Franchise owner what the secret to the business is and you will get one answer…..the caregivers!

Staffing is a big concern in any business, and it is certainly one in home care. As new home care franchise owners go out into the community to let people know they are open for business and hoping to sign on new clients, they also need to have trained caregivers on hand to work with those clients.

From one perspective, it’s exciting to read the statistics on the number of people who are aging in place and living longer, but who still need some degree of assistance with daily activities.

The United States Department of Health and Human Services’ Administration on Aging found that in 2013, there were 44.7 million people age 65 or older in the country, making up 14.1% of the population; by 2060 they project that figure to more than double to 98 million or 21.7% of the U.S. population. However, it’s like a bar graph with that demographic heading straight up and a question mark below it for the number of capable caregivers to meet the demand.

In addition to the elderly, many people of all ages require assistance to remain at home, including people recovering from surgery, living with a chronic condition such as MS or Parkinson’s, and those who are physically or developmentally disabled. The future demand for in home caregivers is evident in the Bureau of Labor Statistics estimation that they are one of the fastest growing professions in the U.S.

Learning more about people who choose to work in the caregiving profession including their training, professional and personal backgrounds, and why they do what they do, can go a long way toward relieving concerns about staffing a home care business.

Meet Donna

DonnaDonna Barr, 59, got her degree in early childhood education before becoming the owner of a preschool in Connecticut.

“I just adore helping people and helping children,” she says. Ms. Barr has been a caregiver with Senior Care Franchise serving Western Washington state for the past three years of her whole 25-year caregiving career.

“I’ve also worked with a few elderly clients,” she says. “I like to make things easier for them, to get to know them and understand them.”

When it comes to working with young children, Ms. Barr is passionate. “I like it when I win over the parents’ confidence,” she explains. “At the end of the day, I can share cute stories about what their child did.”

Meet Jeannet

JeannetYes, caregivers can and need to be trained, but for many there is an innate desire to help others that enhances their skills. Jeannet Gutierrez, 58, is the mother of two grown children and a full-time caregiver for Senior Care Franchise in Washington.

“When I came to America from Peru, being a caregiver made me feel like I was helping my Mom again,” Ms. Gutierrez says. “People are so lonely sometimes.” In Peru, Ms. Gutierrez worked in her mother’s restaurant and as a secretary for a computer business, but when she came to the United States, she went to school and got a nursing assistant certificate. Now she takes pride in hearing that the families of her clients are happy with her care.

“I have worked with many hospice patients,” she says. “I feel very helpful when I talk to the family and explain how they need to still show their love.”

Ms. Gutierrez is about to celebrate nine years as a professional caregiver. These two women are just a small sample of the many people who seek out work to serve others—children, elders, or infirm—in the home care industry.

Visit the Top 10 Senior Care Franchises website for the latest information on the most profitable senior care franchises in the industry.

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Best Kids Franchise

Best Kid Franchise

Best in Class Education Center ended the year with a record breaking month.  In the month of December, Best in Class welcomed three new franchisees to the Best in Class team and signed 5 new locations.

In addition, Best in Class was able to start the New Year on the right foot by welcoming our newest franchisee, Ms. Nidia Cardenas to the team.  Nidia will be developing the first center in El Paso, Texas and is our sixth franchisee who was able to take advantage of ourTeacher Incentive Program.

Launched in November 2014, our Teacher Incentive Program makes it easier for passionate educators and childcare professionals to join the Best in Class team.  We reduce the franchise fee by $3,000 for each of the first three centers they open, in addition we waive the royalties for the first 3 months of operating their center. 

Our momentum for 2016 shows no signs of slowing, just in the first quarter we anticipate opening four new centers across Texas and California.

The brand’s ability to grow and develop successfully in both new and existing markets is due to the recognizable achievements students have experienced at the centers. Best in Class is looking for franchisees in 46 states, allowing the gift of education to spread into new markets.

Best in Class ensures that it can “Give the Gift of a Lifetime,” and is dedicated to providing superior supplemental education to guarantee students’ individual success. The brand’s thoughtful methods, quality instructors and customizable approach have garnered great attention and traction in the education market.

To motivate and help students develop comprehensive analytical skills, the Best in Class team has created programs that emphasize understanding and long-term retention through a tailored curriculum.

This attention to individualized needs has helped Best in Class position itself as the industry’s leading provider of complementary education to students in elementary, middle, and high school.

Contact us to learn more:

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The New Senior Care Franchise Owner

The New Senior Care Franchise Owner

entrepreneur-593377_640America’s big generation is heading into its next big phase of life. By 2030, baby boomers will be 65 or older and will constitute 20 percent of the U.S. population. That’s a lot of retirees.

But many of them will not be retired in the traditional sense. They’ll be working, according to a 2014 Merrill Lynch Retirement Study that spotlights the “new retirement workscape.” The report concludes that “in the near future, it will become increasingly unusual for retirees not to work.” Driving forces cited in the study include increasing life expectancy, elimination of pensions, economic uncertainy and re-visioning of later life towards purpose and social engagement.

Related: This 100-Year-Old Woman Works 11-Hour Days and Says She Wouldn’t Have It Any Other Way

Couple this with the stark reality that 22 percent of boomers have less than $100,000 of retirement savings — and half of those have less than $50,000. It’s no wonder that 62 percent of younger boomers (ages 51 to 65) expect employment to be a source of income in their retirement years.

Boomers are responding to the challenge by starting their own businesses in record numbers. According to the Kauffman Index of Entrepreneurial Activity, 23.4 percent of new entrepreneurs in 2013 were aged 55 to 64. Why the interest in entrepreneurship? When older workers are downsized, it can take nearly twice as long for them to find new jobs, so it makes sense to many boomers to start their own companies. Other boomers choose entrepreneurship as an encore career in order to pursue a passion, work on their own terms and continue to create wealth for themselves and their families.

Bohnne Jones of Nashville, Tennessee, fits both categories. After 31 years in health care, she was downsized five times between 2002 and 2007 — until she turned to something completely different. “I was looking to own my own business and work pursuing my passion for design, fabrics and color.” Jones found her answer in the Decorating Den Interiors franchise that she has owned in Nashville for the last eight years.

She’s not alone. Many baby boomers have embraced franchising as the chance to start a business without having to build it from scratch. The U.S. Small Business Administration, “Franchising can be a great alternative if you want to have some guidance in the startup phase of the business.” Jones agrees. “For me, it was an ideal situation. I chose to move into an industry that was not at all where my experience lay. I interviewed existing franchise owners, as well as people who had left Decorating Den. They all said the same thing: Follow the system and you will do well.”

The advantages of buying a franchise include built-in name recognition, proven business models and operational procedures and a wealth of support from the franchisor in locating, supplying and marketing the business. Jones used her own retirement assets to buy her franchise just before the onset of the Great Recession, and the educational materials and low-cost marketing ideas provided by Decorating Den helped her weather the storm. She also values the community that franchising creates. “You can get support from other owners who have experienced the same things you have, and you can get some great advice,” she says.

Although all franchises require an initial investment, those worried about lack of sufficient savings can still find franchises that don’t necessarily require large upfront payments or high net worth. Low-cost franchise options include commercial and residential cleaning services, printing and promotional products, tax preparation and a variety of services for children or seniors.

Small Business Administration loans may also offer a source of financing. And buying an existing franchise from a current owner, as opposed to building a new franchise location from the ground up, can give an entrepreneur more certainty when making a business investment. As with any undertaking, do your research and consult a trusted financial advisor to see if franchising makes sense for you.

Franchising can help baby boomers match their interests, their entrepreneurial spirit and their specific financial situation to a business they can build on — with help and guidance from the franchisor, franchise associations and their fellow franchisees. Says Bohnne Jones, “I’ve had eight years of employment without the worry of yet another round of downsizing. My business is strong, and I feel that I could, in a few years, step back and allow the business to take care of me. Then I can downsize myself!”

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Franchise Owner Story

unnamed Franchise Owner Story

Doug Dix is the owner of Homewatch CareGivers serving Cedar Rapids, Iowa. He opened his business in 2005 and shared his thoughts on how the business has changed in that time, what he has learned since opening his doors, and what has made it all worthwhile.

Q: How is a day in your business different today than it was in your first year in business? Well, my first day I walked into this office—I still have the same office—and I had zero clients and zero employees and I sat down in a chair and leaned back and thought, “Now what do I do?” Fast forward 10 years and there isn’t time to sit back in the chair and wonder. Just this past Sunday, I got a call from a caregiver at 9 p.m. who said she had fallen on the ice and was going to the hospital. To avoid any delays in this clients’ care, I ended up caring for the client myself. In my first year, I built my business to a healthy monthly run rate—but in a matter of a couple of weeks I lost about half of it. Then, I was able to add more clients and climb back up. Today I have about 55 clients and 40 employees. I have two caregivers that have been with me the whole 10 years and a few more who have been with me for seven or eight years. Probably the biggest thing I’ve done for my employees, my caregivers, is to pay them overtime and I’ve always done that. I also give them a week’s paid vacation and just treat them as honestly and fairly as I can.

Q: What would you do differently in your business knowing what you know after 10 years?  This business is more competitive than it was 10 years ago. I’ve made probably every mistake you can, but I’ve gotten more relaxed over time and my staff has gained experience too so that makes it easier to move the chess board pieces around, so to speak. It can be tempting to pay people to do everything for you, but this is my livelihood too so I stay involved.

Q: Can you share the biggest highlight of your last 10 years in business? There isn’t just one highlight. This is a people business and you get rich in many ways that aren’t necessarily about money. Twice, at two different funerals, someone stood up to personally and publicly thank me and my staff for helping them and that’s really better than any paycheck. It just confirms why you get in this business. I used to be in the financial business and worked for banks and those are good, honest businesses and people, but it’s nice to be in a business where it’s about more than money. Another highlight is that I’ve got caregivers who I know giving them a job made a difference in their lives. They are good caregivers. Caregivers tend to be people who are great at taking care of others but not always great at taking care of themselves. If what they put on my tombstone is, “He treated his caregivers too well,” then I’m happy I did this. Finally, interacting with the clients is often a real highlight. I took one client catfishing a couple of times. We caught two buckets of fish! He can’t go out to do that anymore, but he’s still talking about it. I have heard stories from people who were POWs during World War II and learned so much from them.

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Care giver Hiring

Hiring Care Givers in the Senior Care Industry

Blog story1

 

Hiring Care Givers in the Senior Care Industry

Ask any Senior Care Franchise owner what the secret to the business is and you will get one answer…..the caregivers!

Staffing is a big concern in any business, and it is certainly one in home care. As new home care franchise owners go out into the community to let people know they are open for business and hoping to sign on new clients, they also need to have trained caregivers on hand to work with those clients.

From one perspective, it’s exciting to read the statistics on the number of people who are aging in place and living longer, but who still need some degree of assistance with daily activities.

The United States Department of Health and Human Services’ Administration on Aging found that in 2013, there were 44.7 million people age 65 or older in the country, making up 14.1% of the population; by 2060 they project that figure to more than double to 98 million or 21.7% of the U.S. population. However, it’s like a bar graph with that demographic heading straight up and a question mark below it for the number of capable caregivers to meet the demand.

In addition to the elderly, many people of all ages require assistance to remain at home, including people recovering from surgery, living with a chronic condition such as MS or Parkinson’s, and those who are physically or developmentally disabled. The future demand for in home caregivers is evident in the Bureau of Labor Statistics estimation that they are one of the fastest growing professions in the U.S.

Learning more about people who choose to work in the caregiving profession including their training, professional and personal backgrounds, and why they do what they do, can go a long way toward relieving concerns about staffing a home care business.

Meet Donna

DonnaDonna Barr, 59, got her degree in early childhood education before becoming the owner of a preschool in Connecticut.

“I just adore helping people and helping children,” she says. Ms. Barr has been a caregiver with Senior Care Franchise serving Western Washington state for the past three years of her whole 25-year caregiving career.

“I’ve also worked with a few elderly clients,” she says. “I like to make things easier for them, to get to know them and understand them.”

When it comes to working with young children, Ms. Barr is passionate. “I like it when I win over the parents’ confidence,” she explains. “At the end of the day, I can share cute stories about what their child did.”

Meet Jeannet

JeannetYes, caregivers can and need to be trained, but for many there is an innate desire to help others that enhances their skills. Jeannet Gutierrez, 58, is the mother of two grown children and a full-time caregiver for Senior Care Franchise in Washington.

“When I came to America from Peru, being a caregiver made me feel like I was helping my Mom again,” Ms. Gutierrez says. “People are so lonely sometimes.” In Peru, Ms. Gutierrez worked in her mother’s restaurant and as a secretary for a computer business, but when she came to the United States, she went to school and got a nursing assistant certificate. Now she takes pride in hearing that the families of her clients are happy with her care.

“I have worked with many hospice patients,” she says. “I feel very helpful when I talk to the family and explain how they need to still show their love.”

Ms. Gutierrez is about to celebrate nine years as a professional caregiver. These two women are just a small sample of the many people who seek out work to serve others—children, elders, or infirm—in the home care industry.

Discuss your franchise options with a 30 year franchise professional. Expert advice FREE of charge. Call Lewis Trio @ 702-946-0154 or complete the contact form below and we will contact you.

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Franchise Second Career?

Franchising Offers You A Second Career After Retirement

5 Second-Act Careers To Sail Through Retirement
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retirementA new book by Nancy Collamer, a career coach based in Old Greenwich, Ct., offers hope to the burned out and the bored in mid-career. It’s possible to switch gears in midlife and to start a new venture that brings rewards, both financial and emotional, she writes. The book, Second-Act Careers: 50+ Ways to Profit From Your Passions During Semi-Retirement, offers more than 50 different career pointers for the semi-retired worker who might want to become anything from an adult education instructor to an executive recruiter to a mediator to a franchisee.

Collamer includes advice and concrete information about how to make these transitions. Examples: Adult educators may try to sell their services to a place like the Learning Annex. Aspiring mediators can take an online course at mediate.com. Would-be franchisees should check out the International Franchise Association (franchise.org), which connects with franchised businesses in a range of areas, from custom-built print shops to 1-800-FLOWERS to Weed Man lawn care services.

Aside from the many tidbits of advice, the most compelling parts of the book are the real-life stories about people who have made successful career changes and found second acts that are both satisfying and that bring in sufficient cash. I’ll share five of my favorite stories here:

1. Jack Turk, Microsoft employee to magician marketer

When Turk turned 50, he decided to quit his job as a writer, program designer and game designer at Microsoft. For 15 years, he had worked at the same company and was earning a six-figure income. But his lifelong passion lay elsewhere. All along, Turk had run a side business as a magician. He used his corporate experience to bolster the marketing he did for his magic business. Meantime, he noticed that other magicians were struggling to get work. He also knew that a man named Dave Dee ran a business that helped magicians market themselves. Turk wound up buying the business from Dee, spending a year working alongside him while the enterprise changed hands. Now Turk runs magicmarketingcenter.com and sells products like “Success Strategies for the Restaurant Magician,” while doing more than 200 magic events per year, mostly birthday parties.
2. Debra Hamilton, litigator to pet mediator

Hamilton, 54, had worked as a litigator before taking time off to raise her children. When her son started first grade, she decided to train as a mediator. A dog lover and breeder, she wanted to specialize in animal-related conflicts, like disputes over who gets to keep a dog after a divorce and clashes involving trainers, veterinarians and handlers. She charges $500 an hour for her services, with a two-hour minimum. Most cases take six hour to resolve and both parties in a dispute assume equal responsibility for her bill.

3. Beth Chapman, public relations consultant to senior move manager

For nearly 20 years, Chapman, 68, worked as a PR consultant in financial services. Then in 2008, as the financial crisis cut into her client base, a friend sent her a clipping about so-called senior move managers who help older people with the difficult process of divesting possessions and moving to a new, smaller home. After moving 18 times herself, settling five estates and working at her church’s rummage sales, Chapman knew she could do the job. She discovered an annual conference run by a trade association, the National Association of Senior Move Managers, and picked up lots of valuable information at the conclave’s many seminars. Chapman started her own senior move business, called Extra Daughters. She also runs a service she calls Life Legacy Party, which helps clients inventory their valuables and distribute them fairly. Though she had years of experience in PR, she learned that her best marketing strategy was the most down down-to-earth, posting on community bulletin boards.

4. Eve Young, part-time bookkeeper to celebrant and acting extra
For most of her adult life, Young, 60, spent her time raising her kids, volunteering in her community and bookkeeping part-time. When her children left her home in Glen Ridge, N.J., Young read about a nonprofit called Celebrant Foundation and Institute that trains people to officiate at events like weddings. Coming from a family that was part American Indian, Young had taken part in many rituals and ceremonies and decided to study to become an interfaith minister. Young specializes in personalized ceremonies, like a wedding for a single mother of Polish extraction and an African-American man. Young charges $350 per ceremony and does two per month. She also started working as an acting extra after reading a classified ad, getting paid up to $125 for a job on a movie set and as much as $250 per day as a model for print publications.

5. Alison Talbert, travel agent to importer

After working as a travel agent, Talbert, 45, became a stay-at-home mom until her two kids reached their teens. Casting around for a part-time work option, she learned about a course for people who wanted to import goods from Ecuador. The course included a trip to South America and meetings with local artisans. Talbert stocked up on goods on that first trip and has since returned a dozen times. She buys leather bags, woven shawls and jewelry, and sells them to vendors who then sell the goods retail. She has also traded roses and other flowers and plans to open her own online retail stores.

A few caveats about these stories: Collamer doesn’t offer enough financial details for us to know how profitable these enterprises are and whether the people she describes are truly living on what they earn. I suspect that the first three described here, magician Turk, mediator Hamilton and senior move manager Chapman are all earning their keep. But my guess is that Young and Talbert get help from a spouse or they have substantial savings. The financial details of Talbert’s Ecuadoran import business are especially vague. But it does sound like Talbert has found a fulfilling path that can lead to profits down the line. The takeaway message from Collamer’s book is that many people in mid-career can discover ways to channel lifelong passions into new careers. Or they can find their way into totally new vocations that match their interests and talents

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FREE Senior Care Franchise Buyers Guide

Everything You Need To Know Before You Buy Learn the secrets of 30 year franchising veteran Lewis Trio

  • The Path to Riches: Which One Are You?
  • Benefits of Business Ownership
  • Benefits of Franchising
  • Pitfalls of Franchise Businesses
  • Buying a Senior Care Franchise
  • Franchise Funding Options
  • Franchise Vocabulary